EM&I, September Extraordinary General Meeting... "Establishing a Foundation for Shareholder Returns"

EM&I, a manufacturer of OLED (Organic Light Emitting Diode) components and materials, announced on the 19th that it will hold an extraordinary general meeting of shareholders at its headquarters in Ansan on September 21. The main agenda items include the coverage of capital reserve deficits and amendments to the articles of incorporation to add new business purposes.

An EM&I representative stated, "We have determined that sufficient funds have been accumulated to cover the deficit, so we decided to cover the entire deficit," adding, "Based on this year's business performance, we will actively consider various policies to enhance shareholder value."

EM&I will use the previously secured capital reserve of 25.2 billion KRW to cover approximately 23.1 billion KRW in deficits incurred during the former KJ Pretech period. This will improve the financial structure and is expected to enable shareholder-friendly policies such as dividends when profits occur in the future.

Amendments to the articles of incorporation to add new business areas are also on the agenda for this extraordinary general meeting. The additional business purposes include ▲ import, distribution, and sales of electric two-wheeled vehicles ▲ distribution and sales of electric vehicle batteries ▲ recycling of electric vehicle waste batteries ▲ development, manufacturing, sales, and research of secondary battery materials.

Since the resumption of stock trading in November last year, EM&I announced that the major shareholder's shares will be locked up for three years and that it will implement shareholder return policies. The company is accelerating efforts to achieve visible results in its new businesses while maintaining stable financial soundness through the solid foundation of its existing OLED business division.

This content was produced with the assistance of AI translation services.